... Staff Reports #362.Ang, Andrew, Geert Bekaert, and Min Wei, 2008, “The Term Structure of Real Rates and Expected Inflation,” Journal of Finance, Vol. 63, 797–849.Ang, Andrew and Monika Piazzesi, ... Sepp¨al¨a(2006), Rudebusch, Sack, and Swanson (2007), Rudebusch and Swanson (2008, 2009), and 11Gallmeyer, Hollifield, and Zin (2005). Still, it remains unclear whether the size and volatilityof the bond ... model without distorting its macroeconomicfit and stochastic moments.7The remainder of this section, which summarizes Rudebusch,Sack, and Swanson (2007), and Rudebusch and Swanson (2008, 2009)...